Commerce Exam Past Questions and Answers | JAMB, WAEC and NECO

Commerce is a structured system for exchanging goods between buyers and sellers. It involves studying the processes and activities related to buying and selling goods and services, particularly on a large scale.

• Question 51: Ships that sail across the ocean and operate on scheduled time tables are? Options:
  A) ferries
  B) ocean liners
  C) tramp steamers
  D) coastal liners
  Show Answer
  The correct answer is B .
• Question 52: The Nigerian Stock Exchange publishes a daily official list that gives full information on the? Options:
  A) method of transation agreed to by members
  B) number of participating members in a day
  C) changes in the prices and earnings of securities
  D) changes in the official rules set by the market
  Show Answer
  The correct answer is C .
• Question 53: The practice by which an insurance company accepts a very large risk and later shares it with other insurance companies is called Options:
  A) subrogation
  B) contribution
  C) re-insurance
  D) indemnity
  Show Answer
  The correct answer is C .
• Question 54: Which of these is both merit and demerit in partnership? Options:
  A) The number of partners
  B) It unlimited nature
  C) The bearing of risk
  D) The withdrawal of a major partner
  Show Answer
  The correct answer is A .
• Question 55:

  Use this information to answer the question below.

  Aboki Plc became insolvent and decided to wind up to meet the legitimate claims of its creditors. Babalawee was called in to manage the dissolution.

  Babalawee is ___________?

  Options:
  A) a claimant
  B) a manager
  C) an assessor
  D) a reciever
  Show Answer
  The correct answer is D .
• Question 56: The macro-environment forces and trends which are a constraint on business operations are referred to as? Options:
  A) technological factors
  B) economic factors
  C) external factors
  D) internal factors
  Show Answer
  The correct answer is A .
• Question 57: Digital computer is divided into? Options:
  A) analogue, hybrid and mini
  B) super, maniframe, mini and micro
  C) mainframe, hybrid and micro
  D) super, mainframe, micro and analogue
  Show Answer
  The correct answer is A .
• Question 58:

  The policy used when contracts are awarded as a result of tender is________

  Options:
  A) market penetration
  B) market skimming
  C) Bid Pricing
  D) Product Line Pricing
  Show Answer
  The correct answer is C .
• Question 59:

  Examples of current assets are

  Options:
  A) cash and trade debtors
  B) cash and trade creditors
  C) trade debtors, trade creditors and cash
  D) trade creditors and trade debtors
  Show Answer
  The correct answer is A .
• Question 60:

  Use the information below to answer this question

  A B C Balance Sheet as at 31/12/2004

  ₦ Share capital 200,000 Reserves 100,000 Long term liabilities 40,000 Current liabilities 30,000 370,000

  ₦ Fixed assets 180,000 Investment 100,000 Current assets 50,000 Fictitious assets 40,000370,000

  What is the capital employed?

  Options:
  A) ₦ 340,000
  B) ₦ 200,000
  C) ₦ 300,000
  D) ₦ 170,000
  Show Answer
  The correct answer is C .